Emily Moore Sep. 22, 2014, 2:47pm

The Illinois Commerce Commission (ICC) announced a $46.2 million settlement on Thursday with Commonwealth Edison in response to two lawsuits filed by Attorney General Lisa Madigan in 2008 and 2010 challenging its rates.

Refund rates will be based on electricity used in the month of October 2014 and average $8 per residential customer. The refund will come as a credit on November electric bills.

ComEd customers between October 2010 and December 2012 will also be eligible for refunds after verifying that they were customers in that time frame.

“Illinois residents deserve fair, affordable electricity rates, and I remain committed to fighting on their behalf,” Madigan said. “In these cases, it is clear based on the numerous court rulings that ComEd customers are entitled to refunds.”

The suits brought by Madigan against ComEd started in 2008 with allegations that surcharges charged to customers to pay for “smart grid” features violated the Illinois Public Utilities Act. The argument was upheld in two appellate court decisions in 2010 and 2012.

A second lawsuit in 2008 alleged that customers were charged erroneous higher rates based on ComEd’s capital investments when the ICC inflated the value of ComEd’s investments.

A ruling was made in a 2010 appellate decision upholding Madigan’s position, and the ICC ruled for $36.7 million in customer refunds. ComEd challenged the ICC’s ruling, but Madigan’s argument was again upheld in a 2013 appellate court decision.

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American Heartland Bank & Trust Company
799 Heartland Dr
Sugar Grove, IL 60554

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